This year, National Recycling Week runs from Monday 8 November to Sunday 14 November. As many organisations around Australia transition back to the workplace, it’s a great time to assess how your business can implement more environmentally friendly practices to support our future generations. After all, our tomorrow starts today. Here are seven benefits of adopting more eco-friendly business practices.
1. Do good for the environment
Climate change has become one of, if not the most pressing concern of the present, affecting global economies and societies on a global scale. Researchers have warned that without action, climate change will lead to devastating outcomes, including “alarming hunger levels around the world, mass migration challenges, the collapse of global financial markets and other social and economic disasters.”1
At Winc, we believe that businesses can be one of the most influential and powerful enactors of change in this space. That’s why we have developed our own Winc Social Agenda which outlines our commitments in six areas of social responsibility, including climate change.
Adopting more environmentally friendly business practices such as minimising the production of waste, sourcing sustainable packaging options and improving recycling processes can help mitigate climate change.
Reducing your business’ production of greenhouse gas emissions, diverting waste from landfill and using fewer natural resources will alleviate the pressure on our global ecosystems.
2. Advocate for social change
Making environmentally responsible choices through our spend, such as choosing to do business with sustainable suppliers, will not only fulfil environmental initiatives but support positive social change.
For instance, buying Fairtrade means you support farmers in attaining fairer working conditions and pay, reinforce the ban on discrimination, forced labour and child labour and connect disadvantaged producers with more secure buyer relationships.
3. Improve efficiencies and reduce cost
Sustainability is all about reducing waste and minimising environmental harm. Making small eco-friendly changes through your operations, procurement and workplace environment can reduce costs and improve business efficiencies.
For example, while LED lightbulbs are slightly more expensive than incandescent bulbs, they use 25-30% less energy and last approximately 25 times longer.2
By taking the steps to ensure lights and appliances are switched off when not in use, implementing recycling programs in your workplace or purchasing ‘green products’ that are backed by environmental third-party certifications, you can create positive environmental outcomes that benefit your business in the long run.
4. Build customer loyalty
Younger generations, specifically Generation Z and Millennials, have shown a preference for more sustainable options through their purchases. One study of 30,000 consumers from 60 countries showed that 65% of sales of consumer goods were generated by brands whose marketing conveyed social or environmental commitment.3
5. Become an employer of choice
Commitment to environmental initiatives can also increase your reach in the talent pool. In one survey of 2,000 respondents, 45% said they would be willing to take a 15% pay cut to work for a company with genuine care for social or environmental change. Furthermore, 51% said a sense of social purpose is very important for their ideal job.4
6. Increase employee engagement
Taking environmental action can also benefit your business by strengthening relationships, enhancing morale and even supporting the growth of expertise through the engagement of employees on various levels. Research has shown that implementing both social and environmental impact programs result in higher employee engagement and morale, increasing productivity by up to 13%.5
7. Feel good in knowing it’s the right thing to do!
At Winc we believe that being a good corporate citizen means we have an accountability to both people and planet. And we are not alone. One survey of 9,100 businesses around the globe found that 81 per cent of respondents believe they had a responsibility to combat climate change and 21 per cent said taking a sustainable approach to business is essential for survival.6
Our tomorrow starts today. If you’d like access to sustainable alternatives for a range of workplace products, view our range online.
References:
1Deloitte, 2020, ‘Reducing Environmental Impact Is Now A Business Imperative’, <https://www.forbes.com/sites/deloitte/2020/01/22/reducing-environmental-impact-is-now-a-business-imperative/?sh=3b1dda9c6cc6>
2Poppick, S., 2017, ‘7 ways going green can save you lots of money’, <https://www.cnbc.com/2016/04/18/run-a-green-business-make-money.html>
3Envirotech, 2020, ‘10 Benefits Of Investing In Sustainability Practices In Companies’, <https://envirotech.edu.au/en/news-and-promotions/our-news/blog-10-benefits-of-investing-in-sustainability-practices-in-companies/>
4Dassel, K., Wang, X., 2016, ‘Social purpose and value creation. The business returns of social impact’, <https://www2.deloitte.com/content/dam/Deloitte/ru/Documents/risk/social-purpose-and-value-creation-en.pdf>
5Dassel, K., Wang, X., 2016, ‘Social purpose and value creation. The business returns of social impact’, <https://www2.deloitte.com/content/dam/Deloitte/ru/Documents/risk/social-purpose-and-value-creation-en.pdf>
6Cain, A., 2020, ‘Using sustainability as a tool for maximum business success’, <https://www.afr.com/policy/economy/using-sustainability-as-a-tool-for-maximum-business-success-20200106-p53p8c>
